BUSINESS

Black Friday Sales Up, But Not A Good Barometer

01/01/2009 05:12 am ET | Updated May 25, 2011

Happy Cyber Monday! If the crowds on Black Friday were any indication, it looks like consumers will be busy surfing the Web for deep discounts as well.

Sales over the Thanksgiving long weekend were surprisingly strong. The National Retail Federation estimated that consumers spent $372.57 on average, an increase from 7.2% from a year ago.

But the NRF is predicting just a 2.2% increase in holiday shopping sales this year, which would be the smallest increase since 2002. Even that forecast is considered too rosy by many other industry experts.

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